Financial Transaction Rules 155

Hello in this presentation we will be discussing the transaction rules financial transaction rules as they relate to recording financial transactions with regard to the accounting equation. At the end of this, we will be able to list transaction rules explained our reasons for the transaction rules and apply transaction rules to recording financial transactions. First rule, at least two accounts will be affected. It’s going to be whenever we record any transaction and whether we’re talking about a transaction for recording payroll record an accounts receivable, recording accounts payable, all those normal things that the accounting department does on a day to day basis.